Disappointing report on accounting web today – I think its been on the BBC as well – about staff at Montpelier, a boutique tax advisory firm, being charged with fraud:
But I’m not surprised. A few years ago we were being strongly encouraged to use their services by an accountants network, “All the smart accountants are doing this, its what clients want” – referring to complex and dubious tax schemes. My scepticism then seems to have been proved right.
Broadly, if it sounds to good to be true, it probably is. Likewise if you – or your accountant – don’t understand it, don’t do it.